Constellation's Support for Clean Hydrogen Tax Credits
Key Ideas
- Constellation praises the U.S. Treasury Department's reversal to allow existing nuclear plants to qualify for tax credits for clean hydrogen production.
- The company emphasizes the importance of nuclear energy in powering businesses and transitioning to sustainable technologies for economic growth.
- Constellation is evaluating the impact of the new rules on its clean hydrogen project and its involvement in the MachH2 Hub.
- With a focus on clean, emissions-free energy, Constellation aims to achieve 100% carbon-free generation by 2040 and invest in technologies to reduce carbon emissions.
Constellation, a major producer of carbon-free energy in the U.S., has welcomed the U.S. Treasury Department's decision to allow existing nuclear plants to qualify for tax credits under Section 45V for clean hydrogen production. The company's CEO, Joe Dominguez, highlighted the importance of reliable nuclear energy in facilitating the transition to clean hydrogen and other sustainable technologies. Constellation is currently assessing the implications of the new rules and electric transmission charges on its clean hydrogen project at the LaSalle Clean Energy Center and its role in the MachH2 Hub. With a strong focus on clean energy, Constellation aims to help customers achieve their sustainability goals and has set a target of reaching 100% carbon-free generation by 2040. The company is also investing in emerging technologies to reduce carbon emissions across various sectors of the economy. Constellation's commitment to supporting clean hydrogen and sustainability is evident in its initiatives and strategic partnerships.